Chinese Academy of Sciences-backed laser-diode chip foundry Everbright Photonics has now raised $63.3m since it was founded in 2012.

Everbright Photonics, a China-based laser-diode chip maker backed by Chinese Academy of Sciences (CAS), has closed an RMB150m ($21.2m) series C round involving a subdivision of state-owned investment holding group State Development and Investment Corp (SDIC), China Money Network has reported. The deal was led by securities brokerage Huatai Securities with participation from Nanjing Daofeng Investment. SDIC participated through a tech transfer-focused fund: SDIC (Ningbo) Technology Achievement Transfer Venture Investment Fund. Founded in 2012, Everbright Photonics develops high-power laser diodes and semiconductors for optical-driven applications in sectors such as medicine, beauty, graphics, science and industrial. The company owns a bespoke laser diode production line, claiming expertise in areas including photoelectric conversion efficiency and the lifespan of its products. Everbright Photonics has now obtained a total of $63.6m across five funding rounds, according to China Money Network. An unnamed unit of CAS joined SDIC Venture Capital and Suzhou Chengxin Venture Capital to invest $22m of series B funding in 2018, two years after Everbright had closed a series A round backed by East-Lake Venture Capital. Everbright had already collected an undisclosed amount from photoelectronic instruments producer Up Optotech in 2012.

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